Here is the Abstract of a paper on institutional investors and their usage of technical analysis.
Source:
http://www.cfainstitute.org/learning/products/publications/contributed/Pages/head_and_shoulders_above_the_rest__the_performance_of_institutional_portfolio_managers_who_use_technical_analysis.aspx
Registration may be required to read more, but the main ideas are listed.
Abstract
Based on a study of more than 10,000 actively managed equity and balanced funds, including about one-third of which employ technical analysis, the authors compared the investment performance of funds that use technical analysis versus those that do not using five metrics. They found that funds using technical analysis provided a meaningful advantage to their investors.
Source:
http://www.cfainstitute.org/learning/products/publications/contributed/Pages/head_and_shoulders_above_the_rest__the_performance_of_institutional_portfolio_managers_who_use_technical_analysis.aspx
Registration may be required to read more, but the main ideas are listed.
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